Teamleader Closes $22M In Series C

Software-as-a-Service (SaaS) platform Teamleader has closed $22 million in Series C funding, led by Keen Venture Partners, with participation from PMV and current investors Fortino Capital and Sage Capital.

The Belgium-based company says it serves nearly 10,000 customers in six countries, easing small businesses (SMBs) into the world of digitization, and providing services to help these companies migrate to the virtual world of things like invoicing and customer relationship management (CRM). Since its inception, Teamleader Co-founder and CEO Jeroen De Wit said the firm has focused on a trend.

“We noticed that our [SMB] customers [of our original company] always ran into the same problems: managing their customer base, creating and sending offers to leads, and the invoicing process,” he said in an interview.

In 2016, the firm revealed nearly $11 million raised in a Series B round.

In addition, the Teamleader Marketplace allows customers to integrate their favorite local SaaS tools with Teamleader. The service is on track to support 1,000 integrations.

“We even created a $1 million fund for developers across Europe to create integrations with Teamleader, a pretty wild idea that’s working great,” De Wit told reports. “What’s great about the marketplace is that it also allows European SaaS players to piggyback on our growth — like the Belgian startup Cumul.io, which is now finding customers in Spain through our marketplace. This perfectly fits our vision.”

De Wit went on to explain that SMBs no longer fear digitization, and are using more business software to their advantage.

“These tools need to work side by side as one, in integrated systems, for [SMBs] to get maximum value out of them,” he said.

Other than investing in the Teamleader Marketplace, the company plans to use its latest round of funding for continued international growth and to accelerate its product roadmap. This will include expanding on what it calls a “multi-local approach” and improving the Teamleader product for individual country’s specific needs.